27,075 Shares in Extra Space Storage Inc. (NYSE:EXR) Acquired by ING Groep NV

ING Groep NV bought a new position in shares of Extra Space Storage Inc. (NYSE:EXR) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 27,075 shares of the real estate investment trust’s stock, valued at approximately $4,050,000.

Other large investors have also added to or reduced their stakes in the company. Golden State Wealth Management LLC purchased a new position in shares of Extra Space Storage during the 4th quarter valued at $25,000. Ashton Thomas Securities LLC purchased a new position in shares of Extra Space Storage in the third quarter valued at about $33,000. Harvest Fund Management Co. Ltd bought a new position in shares of Extra Space Storage in the third quarter worth about $42,000. Continuum Advisory LLC grew its position in shares of Extra Space Storage by 68.1% during the third quarter. Continuum Advisory LLC now owns 311 shares of the real estate investment trust’s stock worth $56,000 after purchasing an additional 126 shares in the last quarter. Finally, Quent Capital LLC raised its stake in Extra Space Storage by 89.0% during the 4th quarter. Quent Capital LLC now owns 327 shares of the real estate investment trust’s stock valued at $49,000 after purchasing an additional 154 shares during the period. Hedge funds and other institutional investors own 99.11% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Scotiabank upgraded Extra Space Storage from a “sector underperform” rating to a “sector perform” rating and set a $167.00 price target for the company in a research note on Friday, January 10th. Barclays cut their target price on shares of Extra Space Storage from $192.00 to $184.00 and set an “overweight” rating for the company in a research note on Monday, January 13th. StockNews.com upgraded shares of Extra Space Storage from a “sell” rating to a “hold” rating in a research note on Tuesday, January 28th. Truist Financial raised their price objective on Extra Space Storage from $167.00 to $168.00 and gave the company a “hold” rating in a research report on Thursday, December 5th. Finally, Wells Fargo & Company dropped their price target on Extra Space Storage from $170.00 to $165.00 and set an “equal weight” rating for the company in a research note on Friday. One analyst has rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, Extra Space Storage presently has an average rating of “Hold” and an average target price of $173.09.

Insider Buying and Selling at Extra Space Storage

In other news, CEO Joseph D. Margolis sold 7,500 shares of the business’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $148.01, for a total transaction of $1,110,075.00. Following the completion of the sale, the chief executive officer now directly owns 16,690 shares of the company’s stock, valued at approximately $2,470,286.90. The trade was a 31.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.36% of the stock is currently owned by corporate insiders.

Extra Space Storage Stock Down 0.1 %

Shares of NYSE:EXR opened at $155.85 on Friday. The firm has a market capitalization of $33.04 billion, a PE ratio of 40.80, a price-to-earnings-growth ratio of 7.76 and a beta of 0.91. The business has a 50 day simple moving average of $151.61 and a two-hundred day simple moving average of $163.72. Extra Space Storage Inc. has a 1 year low of $131.02 and a 1 year high of $184.87. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.23 and a quick ratio of 0.23.

Extra Space Storage Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be issued a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 4.16%. Extra Space Storage’s payout ratio is currently 169.63%.

Extra Space Storage Company Profile

Extra Space Storage Inc, headquartered in Salt Lake City, Utah, is a self-administered and self-managed REIT and a member of the S&P 500. As of December 31, 2023, the Company owned and/or operated 3,714 self-storage stores in 42 states and Washington, DC The Company's stores comprise approximately 2.6 million units and approximately 283.0 million square feet of rentable space operating under the Extra Space, Life Storage and Storage Express brands.